Cambodia’s small and medium enterprises (SMEs) can now avail of easy leasing options to procure their machinery.
Heavy machinery supplier Powerplus Machinery (Cambodia) has teamed up with Acleda Bank Plc, signing a memorandum of understanding (MoU) to provide financing for SMEs to tap into the booming infrastructure sector.
Acleda is one of Cambodia’s largest banks, with 262 branches spread across the Kingdom.
“We are proud to join hands with Acleda to offer financing for Cambodian businesses to expand their capital expenditure and invest more in improving the country’s infrastructure.
“I hope the MoU between Acleda and Powerplus will make it easier for the two companies to communicate and work together to improve Cambodia’s infrastructure,” said Powerplus Machinery (Cambodia) managing director Tho Da.
With the offer of financing options, it allows Powerplus’s clients to gain access to bank loans and leverage on their capital to own more heavy equipment, such as dump trucks, excavators, wheel loaders, bulldozers, forklifts, tractors and graders.
This in turn helps to contribute to the building of the nation’s infrastructure as well as the construction sector.
“Together, we can do more to help in our nation’s development, and at the same time allow our local businessmen to own the heavy equipment they are operating,” said Da.
According to official statistics, the construction sector attracted a total investment of $8.7 billion in the first 11 months of last year, up 67 per cent on the same period in 2018.
The partnership between Powerplus and Acleda will allow small business owners more opportunities to tap into the growing sector.
Powerplus Machinery (Cambodia) specialises as a heavy equipment solutions provider in what is a fast-growing sector in Cambodia.
“We offer market leading Powerplus products such as dumper trucks, concrete trucks, crawler cranes, backhoes, bulldozers, graders and asphalt mixing plants. Our business revolves around machines you can count on, and so customer satisfaction is vital for Powerplus.
“We provide more than just simply selling quality construction equipment – instead, we help our customers finance their heavy equipment purchases, and we support them closely,” Da said.
As well as selling construction equipment, the company also provides a top-notch after-sales service, backed with a steady inventory of spare parts and Powerplus’s global distributor network.
Dennis Tan, a Powerplus representative, said most owners of SMEs traditionally preferred to rent their heavy equipment monthly rather than own it.
“With the implementation of monthly instalments to service the financing for their equipment, we hope to help Cambodians own
their machinery, and to use our machines as assets to generate more income for themselves. We deeply value Acleda’s strategic cooperation,” Tan said.